Fort Mill Storage Opportunity (Storett)
For sale144 B W. Thomas Dr, Fort Mill, SC 29708
Unit / Space count
251
Price
$5,150,000
Occupancy
80.5%
Lot size
291,416 SF
Number of buildings
6
Total Parking Spaces
231
Property description
Ideally positioned in the thriving Fort Mill market just south of Charlotte, North Carolina, Fort Mill Storage Opportunity presents an attractive self-storage investment in a rapidly growing and affluent trade area. The property offers a diverse mix of climate-controlled and traditional storage units, along with outdoor vehicle and boat parking, catering to a broad range of residential and recreational storage needs. Its convenient location near Lake Wylie and the greater Charlotte metropolitan area provides access to a strong customer base supported by continued population growth, residential development, and a desirable quality of life. The property represents a compelling value-add opportunity, with meaningful upside through rental rate optimization, enhanced ancillary income, and the potential for future expansion. Existing security features, gated keypad access, and management systems provide a solid operational foundation, while the surrounding market’s continued growth and relatively limited self-storage supply create an appealing backdrop for long-term performance. With multiple avenues to drive revenue and unlock additional value, Fort Mill Storage Opportunity is well-positioned for an investor seeking both immediate operational improvements and future growth potential.
Property highlights
- Value-Add Self Storage Facility Comprised of 54 Climate-Control Units Totaling 3,750 NRSF, 197 Non-Climate Units Totaling 28,815 NRSF, and 231 Outdoor Parking Rentals.
- Strong Physical Occupancy and Low Economic Occupancy Bodes Well for the Immediate Implementation of Existing Customer Rent Increases.
- Limited Competition in the Immediate Trade Area Evidenced by a Market Saturation Rate of 6.9 SF/Capita Within Five Miles of the Property.
- Significant Upside Available Thanks to Below-Market Rents and the Opportunity to Construct Additional Storage Buildings in Place of Existing Outdoor Parking.
- Opportunity to Increase Revenue Through Maximizing Fee Income and the Implementation of Tenant Insurance Sales.
- Facility is an Excellent Candidate for Remote or Semi-Remote Management With Automatic Gate, Keypad Entry, and Management Software Already in Place.
- Elite Demographics Highlighted by a Growing Population of 124,092 Residents and an Average Household Income of $137,487 Within Five Miles of the Property.
- Located Just 15 Miles South of Charlotte, NC, Fort Mill Runs Adjacent to the Highly-Trafficked Lake Wylie, Providing a Continuous Need for Boat Storage.
- The Charlotte-Concord-Gastonia MSA is the Largest in the Carolinas and is Home to a Growing Population of 2,805,115 Residents.
Broker of Record Darron Kattan South Carolina BOR License No. 855575 Firm License No. 19725 813-839-7300 FSIVS@FranklinSt.com Franklin Street Real Estate Services LLC